Focus on "People Marketing" as a REALTOR in 2014
Every year at NAR I make a point of attending the presentations done by the European’s and the Australian’s.
They constantly present outside the box ideas for the North American real estate industry that I personally love.
Last year Peter Knight from London England and the property academy was hands down the best of NAR with his presentation reminding us all that real estate is about people but our industry continues to market property.
Following Peter's lead, my challenge to you this year is to market people and stop marketing property.
About 2 years ago we hired a company to identify who we are as a real estate company. Their final conclusion was that our agency, Royal LePage Kelowna was like the Oprah Winfrey’s of real estate. Helping people.
They also created an ad campaign to focus on "why" we own a home and reminded the consumer of the beautiful things we obtain from home ownership.
- Kitchen parties...
- Tree houses...
- Romantic fireside dates...
- Tea parties and more.
Last year I taught how all marketing companies use "HooDoo" marketing to focus on the people strategy.
First, you establish “WHO”…
...Who will see the most value in your real estate listing or service?
This is the “HOO”
Next, you must tell them what it is they can DO as a direct result of buying your listing or using your service.
This is the “DOO”
Here is an example of people marketing and not property marketing in 2014.
[ez_youtube url="https://www.youtube.com/v/V8xSfcTD7Zo" width="640" height="360" autoplay="0" autohide="2" controls="1"]
Real estate is about life state events or lifestyle events and not about property.
It’s about marriage, divorce, job changes, family, more space, better space...
Our calling in life is to find that right home that is right for our client and their lifestyle
Here is a great example of this...
[ez_youtube url="https://www.youtube.com/v/xOxIhuNT5lY" width="640" height="360" autoplay="0" autohide="2" controls="1"]
- 4.6 million visits a day to Real Estate websites
- 40% of under age of 40 only online
- 60% searching are women
- 88% online every day and 12 different sites each time
- 10% look at real estate magazines and newspapers
- Search terms "Realtors" and "Real Estate Agent" declining dramatically (HUGE clue in this)
- Tablet use as high as T.V. in evenings. Xfactor reported 40% of viewers posted during show
- Tablet searches 18% and rising
- Mobile phone search 51% and rising
- Google recognizing only websites with mobile versions first
- 24% contacted realtor in first 24 hrs. 17% in 60 days. 40% in 120 days.
- 605% searching 2 months or more before deciding to buy or sell
- 70% of sellers are buyers too
- 24% ask 1 agent for CMA
- 29% ask 2 agents for CMA
- 24% choose highest price to list
- 22% choose lowest fee to list
- 92% read agents literature mailed or left behind
- 69% looked at their agents website
- 51% negotiated their commissions
- 34% chose agent that sold similar product to theirs
- 57% chose agent based on trust
People chose an agent on their level of trust 57% of the time.
How many agents are reporting month after month of what really is happening out there?
Video is such a huge viral marketing tool that agents can build a nice following simply by recording a monthly video of 2 minutes or less reporting about your local real estate market news. Before long, if done well and consistently you will begin to be known as the local expert authority in your marketplace.
Here is a great example of this...
[ez_youtube url="https://www.youtube.com/v/QHCm6mKVO-0" width="640" height="360" autoplay="0" autohide="2" controls="1"]
People trust relationships and not property.
Stats show people will buy something 76% more if it was endorsed by a third party source.
What if we created something like this? What would you think it would do to you and your reputation as a REALTOR?
Here is a great example of building trust and marketing people and relationships.
[ez_youtube url="https://www.youtube.com/v/vyC1QZ5spjg" width="640" height="360" autoplay="0" autohide="2" controls="1"]
So many of us say we would love to farm or we would love to show people our expertise.
People are driven emotionally.
How do you feel about this agent and where she lives, works, plays?
Imagine a video series of different areas of where you live, work and play?
Watch this...
[ez_youtube url="https://www.youtube.com/v/cQMPwZUU0L8" width="640" height="360" autoplay="0" autohide="2" controls="1"]
Now some of you may find this next section a bit over the top.
I am now giving you all the PG 13 warning. But seriously do your best to focus on the message and focus on the way they truly market people first and not the property.
Watch this example...
[ez_youtube url="https://www.youtube.com/v/zNZ2motDT-k" width="640" height="360" autoplay="0" autohide="2" controls="1"]
We not only market people but we also market lifestyle.
Again really listen and watch how they do a brilliant job of marketing the lifestyle first versus the same old boring way of marketing property.
Watch this...
[ez_youtube url="https://www.youtube.com/v/1YapVDmW7Zg" width="640" height="360" autoplay="0" autohide="2" controls="1"]
Last but not least really listen and watch how we can market someone’s story, a real person’s story.
The focus is really on the story and the day to day living instead of marketing the property like everyone else.
Watch this...
[ez_youtube url="https://www.youtube.com/v/24rJH3mHPCQ" width="640" height="360" autoplay="0" autohide="2" controls="1"]
So In closing…….
Home is where the heart is, like the ad in the beginning said.
Start marketing “home”.
Start marketing “relationships”.
Start marketing someone’s “story”.
Start building trust and expertise.
Start emotionally connecting people to yourself, with where you live and with your listings because that is what sells today.
Always remember... real estate is about people and not about property. Always has been and always will be.
Strength and courage,
Wade
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